SoftBank Offloads 2% Paytm Stake Worth $120 Mn

SUMMARY

SVF India Holdings (Cayman) Ltd disposed of an aggregate of 1.3 Cr equity shares of Paytm in a series of disposals undertaken between February 10, 2023 and May 8, 2023

After the completion of the sale, SoftBank holds about 11.17% stake in the fintech major or around 7.1 Cr share

Paytm shares were trading 2.8% lower at INR 706.9 on the BSE by 12.45 PM IST

SoftBank said on Thursday (May 11) that it has offloaded over a 2% stake in Paytm’s parent entity One 97 Communications.

“SVF India Holdings (Cayman) Limited has disposed of an aggregate of 13,103,148 equity shares of One 97 Communications Limited in a series of disposals undertaken between February 10, 2023 to May 8, 2023,” an exchange filing by Paytm said. The offloaded amount implies a stake sale of around 2.07% of its total shareholding.

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